(a) Notice of Settlement. An attorney of record and any self-represented party have a duty to give the assigned judge or commissioner prompt notice of the settlement of any matter set for trial, hearing, or argument. The court may impose sanctions if an attorney or a self-represented party does not give prompt notice.

(b) Settlement Without Final Judgment. If the parties have notified the court that a matter set for trial or hearing has been settled, but the parties do not present a final judgment, decree, or order to the court, the court may dismiss the case without further notice unless a final judgment, decree, or order is filed within 45 days thereafter. Alternatively, the court may require the parties to place their agreement on the record, as provided in Rule 69, at or before the time set for trial or hearing. The court also may take other action to ensure the entry of a final judgment, decree, or order.